Markets are celebrating #payrolls coming in below expectations, but the ISM Services dropping below 50 with the ISM Prices spiking toward 60 again smells like #stagflation . To be clear, #Powell has shown eagerness to cut rates, but stagflationary data is not something markets…

Bye-bye!

BREAKING! US nonfarm #payrolls increased by 175K, LESS than expected. As #Powell made very clear during the latest #FOMC press conference, the #FederalReserve wants to focus on both parts of its mandate again. Hence, any labor market weakness will re-open the door to rate cuts!

With #Apple 's biggest #buyback program ever of USD 110 billion, it could also buy:
- #Ferrari (USD 76 billion)
- #Sony (USD 103 billion)
- #Coinbase , #Microstrategy , AND #Grayscale Bitcoin Trust (USD 110 billion)
- #Heineken AND #Monster beverage (USD 110 billion)
- #BNPParibas …

The Bank of Japan’s renewed #Yen intervention killed some short sellers. But for how long?
- Japan’s total #debt -to-GDP ratio is near 450%
- As a result, Japan’s 10-year bond #yield remains below 1% after the biggest global monetary tightening cycle in decades.
- Japan’s…

#Apple ’s stock just became more scarce after the company announced its biggest buyback program.
Equity capital is getting scarcer relative to the abundance of bonds/ #debt , which will show up in relative #valuation . #qualitystocks

Since the start of 2020, the Japanese #Yen is down more than 25% against the Chinese #Yuan . #China will not like that as it gets stuck between remaining a magnet for foreign (direct) investment and losing competitiveness against its biggest trade rivals (Japan, Korea). The…

Grizzle Hard Money ⚒️ Jeroen Blokland - jeroen blokland

▪️Entering the golden era of scarce assets 🔍 quality stocks, #gold & #Bitcoin
▪️Gold = proven track record + size ➡️ capital in bonds will transition to gold
▪️BTC ➡️ bullish w/ high volatility

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#FederalReserve #monetarypolicy in one chart!

#debt #liquidity #bigbalancesheet

Switzerland's inflation rose more than expected in April, rising to 1.4%. While this may sound low, it is high. Since the Great Financial Crisis, Switzerland's average #CPI level has been 0.3%. More importantly, Switzerland has already cut rates, with the gap to the Eurozone just…

Some more #Yen intervention…
#USDJPY

To all Fed bears: Powell sees zero likelihood of hiking rates again. It's just not going to happen.

This is just a quick sentence from #Powell but an important one given the focus on inflation: The Fed stands ready to act if unexpected labor weakness occurs.